Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 03/02/15 Update SMTC ($28.93, Neutral; $26.00 PT): F4Q15 Print+Outlook Should Be OK, But Real Focus Is Long-Term Growth
  • 03/02/15 Update PRGX ($5.01, Buy; $7.50 PT): Q4 ’14 Earnings Preview; Reiterate Buy Rating and $7.50 Price Target
  • 03/02/15 Update TREC ($14.43, Buy; $17.50 PT): Earnings Preview: Expect Q4 Results In Line With Our Estimates or Better
  • 03/02/15 Update GME ($36.97, Buy; $64.00 PT): Trimming EPS To Reflect FX and Higher SG&A Costs
  • 03/02/15 Update ROVI ($24.88, Buy; $29.50 PT): Potentially Hiring Strategic Advisor; Could Highlight Underappreciated Value of Evolving IP Portfolio and Meaningful…
  • 03/02/15 Update PFSW ($11.19, Buy; $15.00 PT): Earnings Preview: Expect Strong 4Q, Maintained FY15 Guidance
  • 03/02/15 Update BV ($9.25, Buy; $10.50 PT): Q3 ’15 Earnings Preview; Reiterate Buy Rating and $10.50 Price Target
  • 03/02/15 Update B. Riley & Co. March Focus List: CHKE, DTSI, EMKR, GME, GUID, ISIL, KTOS, NTRI, PRMW, REMY, RUBI
  • 02/27/15 Update CVU ($12.13, Buy; $16.00 PT): Earnings Preview: Q4 to Cap Transitional 2014, See Record Revenue in 2015
  • 02/27/15 Update ABTL ($12.57, Buy; $19.00 PT): Beats Quarter as High Margin Businesses Scale; 2015 Momentum Building
  • 02/27/15 Update NCMI ($15.15, Buy; $18.50 PT): Upside Q4 Results and 2015 Guide Should Only Strengthen Further With Improving Attendance Trends and a Completed Screenvision…
  • 02/27/15 Update ONNN ($12.86, Buy; $16.00 PT): A Long Prelude, But A Dramatic Payoff Is Now At Hand; Buy, PT To $16.0
  • 02/27/15 Update CSGP ($195.85, Buy; $227.00 PT): Reports Strong Q4 Results Above Guidance; Reiterates FY ’15 Guidance; Provides Early Apartments.com Re-Launch Statistics
  • 02/27/15 Morning Note B. Riley & Co. Morning Notes: AMSWA, BBY, CSGP, IMMR, KW, NPTN, NTRI, ONNN, RUBI, TIVO, TREC, TROX, TUP, WMAR, XCRA; Optical Components (FNSR, JDSU,…
  • 02/27/15 Update AMSWA ($9.55, Buy; $10.75 PT): Reports Q3 ’15 Results; Reiterate Buy Rating and $10.75 Price Target
  • 02/27/15 Update BBY ($37.55, Buy; $47.00 PT): Earnings Preview: Modest Potential Upside For 4Q But Guidance Key
  • 02/27/15 Update IMMR ($8.50, Buy; $13.00 PT): Q4 In Line but Lowering PT from $16.50 to $13.00 on Opex Ramp
  • 02/27/15 Update KW ($27.38, Buy; $34.50 PT): Reports Strong Q4 Results; Raising PT from $32.50 to $34.50
  • 02/27/15 Update TROX ($21.38, Buy; $29.00 PT): Reports Mixed Q4 Results; Alkali Chemicals Deal to Close This Quarter
  • 02/27/15 Update NPTN ($3.35, Buy; $7.50 PT): Earnings Preview: Expect 4Q/1Q Results/Guide In Line; Well-Positioned in 100G; Raising PT from $6.75 to $7.50; Reiterate…
  • 02/27/15 Update XCRA ($8.94, Buy; $12.00 PT): EBITDA And EPS Beat Impressive In Results; Revenue Driver Details Add Confidence To C15 Growth
  • 02/27/15 Update WMAR ($12.15, Neutral; $12.00 PT): 2015 Guidance Below Expectations, But Comp Trend Progressing and Investments Are Beginning To Bear Fruit; Maintain…
  • 02/27/15 Update RUBI ($18.99, Buy; $26.00 PT): Customer Summit Highlights Evolving Marketplace Dynamics and Pricing Power; Orders Product is the Focus
  • 02/27/15 Update TUP ($72.19, Neutral; $70.00 PT): Analyst Meeting Highlights
  • 02/26/15 Update JAKK ($6.42, Buy; $8.00 PT): 10% Decline Overdone—With Valuation at Only 5x EBITDA and 2015E Free Cash Flow Yield of 17%, We Upgrade from Neutral…
  • 02/26/15 Morning Note B. Riley & Co. Morning Notes: DHX, DWA, ITI, JAKK, KW, MWW, SRI, SWKS, TIVO, TROX; Optical Components (EMKR, SONS)
  • 02/25/15 Initiation of Coverage DHX ($8.59, Neutral; $9.75 PT): Initiating Coverage with a Neutral Rating and $9.75 Price Target
  • 02/25/15 Initiation of Coverage MWW ($6.12, Buy; $10.00 PT): Initiating Coverage with a Buy Rating and a $10.00 Price Target
  • 02/25/15 Update DWA ($21.13, Buy; $24.00 PT): Reports Q4 Results; With Liquidity Concerns Firmly Addressed, Focus Can Return to Improved Release/Profitability Outlook…
  • 02/25/15 Update RUBI ($20.40, Buy; $26.00 PT): Another Solid Q and Guide; Increasing Estimates and Maintaining Buy Rating; Increasing PT to $26.00 from $21.00 –…
  • 02/25/15 Update SHOO ($31.15, Buy; $42.00 PT): Q4 in line; slow ports weigh on 1H outlook, but favorable reception to new product positions for 2H inflection vs.…
  • 02/25/15 Update CTG ($7.64, Buy; $9.00 PT): Reports Q4 ’14 Results; Reducing Estimates and Price Target; Reiterate Buy Rating
  • 02/25/15 Update Household/Personal Care: Weekly Highlights (KMB, NTRI, WTW)
  • 02/25/15 Morning Note B. Riley & Co. Morning Notes: AKAM, CAMP, CTG, CVU, GPX, ODP, PCTI, RUBI, SHOO, XCRA; Consumer Products Weekly (KMB, NTRI, WTW)
  • 02/25/15 Update GPX ($36.83, Neutral; $34.50 PT): Reports Q4 ’14 Results; Increasing Estimates and Price Target; Maintain Neutral Rating
  • 02/25/15 Update AKAM ($70.12, Neutral; $68.00 PT): IR Summit Indicates Solid Revenue Trajectory but NT Investments
  • 02/25/15 Update ODP ($9.43, Neutral; $11.00 PT): Synergies Drive Bottom Line Beat Despite Revenue Headwinds; Integration Remains On Track
  • 02/24/15 Update PCTI ($8.11, Buy; $11.50 PT): Earnings Preview: Expect Slight Improvement from Q3, Launchpad to Continued Growth in 2015
  • 02/24/15 Update XCRA ($8.38, Buy; $11.00 PT): Earnings Preview: Expect Results And Outlook In Line With RILY Estimates
  • 02/24/15 Update IMMR ($8.66, Buy; $16.50 PT): Earnings Preview: IMMR Reporting Q4, Remains Value-Priced Growth Opportunity with Ample Catalysts
  • 02/24/15 Update AMSWA ($9.07, Buy; $10.75 PT): Q3 ’15 Earnings Preview; Reiterate Buy Rating and $10.75 Price Target
  • 02/24/15 Update NTRI ($17.41, Buy; $25.00 PT): Diet Season Update and Earnings Preview
  • 02/24/15 Update DTSI ($29.97, Buy; $40.00 PT): Q4 Earnings Preview; Improved Emerging Technology License Visibility to Offset Any Royalty Recovery Headwinds in Initial…
  • 02/24/15 Update NLS ($14.70, Neutral; $14.50 PT): Reports Strong Q4; Retail Segment Faces Headwinds
  • 02/24/15 Morning Note B. Riley & Co. Morning Notes: ABTL, AMSWA, AXTI, DTSI, GSM, IMMR, JAKK, NLS, NTRI
  • 02/24/15 Update AXTI ($2.67, Neutral; $2.90 PT): In Line with Preannouncement; Waiting for Compelling Catalyst; Raising PT from $2.80 to $2.90
  • 02/23/15 Update GSM ($15.99, Buy; $19.50 PT): Inks Transformative Deal to Combine Arguably The Two Best Companies In The Space
  • 02/23/15 Update ABTL ($10.03, Buy; $19.00 PT): Earnings Preview: Expect Upside; 2015 Guidance Above Consensus
  • 02/23/15 Update ONNN ($12.02, Buy; $15.50 PT): Analyst Day 2015 Ushers In The Big Buy-Back Era; Buy, PT To $15.50
  • 02/23/15 Morning Note B. Riley & Co. Morning Notes: BC, CTG, DWA, GPX, HZO, MPX, NCMI, ODP, ONNN
  • 02/23/15 Update CTG ($8.27, Buy; $11.25 PT): Q4 ’14 Earnings Preview; FY ’15 Could Be the Trough; Upgrading from Neutral Rating to Buy
  • 02/23/15 Update DWA ($20.35, Buy; $25.00 PT): Q4 Preview; With Restructuring Already Announced, Focus Likely to be on Liquidity Concerns and Expected Rebound Heading…
  • 02/23/15 Update GPX ($34.07, Neutral; $33.00 PT): Q4 ’14 Earnings Preview; Downgrading to Neutral Rating on Valuation
  • 02/23/15 Update NCMI ($15.00, Buy; $18.50 PT): Q4 Earnings Preview; Expect Positive Comments Around Underlying Ad Trends in 2015; Likely Pre-Trial Settlement with…